Pnb Housing Finance Ltd vs M/S K.K Banijya Pvt Ltd & Ors.
Judges (1)
Counsel (3)
Case Significance
Pnb Housing Finance Ltd vs M/S K.K Banijya Pvt Ltd & Ors. is a Delhi High Court decision dated December 11, 2024 (citation: ik-66651901). PNB Housing Finance filed an S.11 petition seeking appointment of an arbitral tribunal to adjudicate disputes arising from 11 loan agreements aggregating Rs 12.60 crores, secured by two properties in Howrah and Kolkata. The court found a valid arbitration clause in the loan documents and that the lender's unilateral appointment clause was invalid under Perkins Eastman, requiring appointment of an independent arbitrator. Justice (Retd.) Siddharth Mridul was appointed as sole arbitrator to adju The case was heard by Justice Sachin Datta. Counsel appearing: Anish Bhola (counsel for petitioner), Parul Bhola (counsel for petitioner), S.K. Singh (counsel for respondent).
Summary
PNB Housing Finance filed an S.11 petition seeking appointment of an arbitral tribunal to adjudicate disputes arising from 11 loan agreements aggregating Rs 12.60 crores, secured by two properties in Howrah and Kolkata. The court found a valid arbitration clause in the loan documents and that the lender's unilateral appointment clause was invalid under Perkins Eastman, requiring appointment of an independent arbitrator. Justice (Retd.) Siddharth Mridul was appointed as sole arbitrator to adjudicate the disputes.
What was the outcome of Pnb Housing Finance Ltd vs M/S K.K Banijya Pvt Ltd & Ors.?
PNB Housing Finance filed an S.11 petition seeking appointment of an arbitral tribunal to adjudicate disputes arising from 11 loan agreements aggregating Rs 12.60 crores, secured by two properties in ...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-66651901)